eXtract GROUP LIMITED - Withdrawal of cautionary announcement

Withdrawal of cautionary announcement

EXTRACT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/011672/06)
JSE share code: EXG       ISIN: ZAE000246013
(“eXtract” or “the Company”)


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the cautionary announcements released on SENS on 10 October 2017,
21 November 2017 and 5 January 2018 regarding an unsolicited proposal from Wild Rose Capital Proprietary
Limited (“Wild Rose”) in terms of which Wild Rose proposed selling one or more of its portfolio investments
to the Company in consideration for the issue to Wild Rose of eXtract shares. Shareholders are advised that
negotiations have been terminated and accordingly caution is no longer required to be exercised by
shareholders when dealing in the Company’s securities.

As noted in the announcement regarding the restructure and debt repayment released on SENS on 9 February
2018, excellent progress has been made on eXtract’s approved strategy to exit contract mining, monetise its
excess mining assets and repay its debt.

The board continues to engage with shareholders on the strategic options for the Company going forward.
However, following the unbundling by enX Group Limited (“enX”) of the eXtract shares held by enX to its
shareholders, over 90% of eXtract’s shareholder base comprises new shareholders. A significant number of
these shareholders have indicated a preference for any surplus cash to be returned to shareholders. This has
resulted in a need for eXtract to revisit its stated strategy to co-invest in the Last Mile Fund and also to continue
to reduce the remaining overhead costs.

A special board meeting will be held soon after the annual general meeting, scheduled for 21 February 2018,
to consider this new strategic direction for the Company. A further announcement in this regard will be
released on SENS in due course.

13 February 2018


Sponsor
Java Capital

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